By Daniel Hunter
Reports in the Financial Times suggest that BHP Billiton are to extend capital expenditure cuts as part of a major shake-up to its senior management team.
The Anglo-Australian miner is looking to lower its costs amid weak commodity prices, as they look to cut planned capital spending by US$600 million in 2014-15.
“Improved capital productivity gives us additional flexibility,” said Andrew Mackenzie, BHP’s chief executive. “We are reducing the cost of bringing on new production and can lower our investment without slowing volume growth.”
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